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The economic situation in China becoming increasingly challenging for foreign manufacturers, the client decided to migrate part of its operations to Cambodia.
Our team assisted the client by rearranging its corporate structure, solving Chinese employment matters and providing support for cross-border tax and accounting issues. The client continues in China with a considerably downsized operation.
We identified a small local HR company in Hong Kong, which we helped the client to acquire. Under the Closer Economic Partnership Agreement (“CEPA”) between Hong Kong and China, a Hong Kong based HR company would at the time be able to own 70% a Chinese subsidiary in the same industry.
After the acquisition of 70% of a Chinese HR company, we also helped the client to obtain all relevant approvals. This complex project allowed the client to achieve a strong competitive positioning in the Chinese market.
The client is a leading international water supply and wastewater company
The client asked us to perform a due diligence of the plant and the surrounding town, in particular with regard to local licenses and ownership of the plant and the local water distribution network.
We made a team available and performed a detailed study of local regulations, patents and other intellectual property and the power of the town to enter into a binding agreement. On completion of the due diligence the client decided against the transaction, in particular because of problems with the ownership of the infrastructure and intellectual property.